How has the recession affected you?

No pay rise for the last three years so in public sector speak - three successive pay cuts I suppose ;)

Being a bit more careful with money (shopping etc), saving more but refusing to cut back on a holiday and small luxuries (CDs, beer/wine etc) - if this means living stingily for a while so be it.

Have never been extravagant with vehicle choice, going out, clothes buying etc so no change there.

Mortgage repayments down which is good.
 
I can't have a pint anymore without someone bringing up the latest news on Irish government bond yields and credit default swap spreads.
 
Have not had salary reduced. Have had the same levies as everyone.

What has hit me, and this is something I had not previously realised how ingrained it had bceome, is the disappearance of the ..
- end of year cash bonus
- end of bank share dividends
- falling below the level at which PRSI threshold kicks in

The combination of these kicking in around the same time left me without what had become the principal means of financing Christmas. In response, we haven't really cut back on the end of year spend, just the financing of it had to be changed, which affects day to day spend for the other times of the year.

We're not in the habit of going out that much, so cutting back on that wasn't an option. We have cut back on holiday spend. I realised a while back that I haven't been out of the country for nearly 2 years. Which isn't a hardship - I'd take a week in Donegal over 2 weeks in some Mediterranean tourist kip any day ;) !

I'm still in a permanent job. My wife went from a 2-year contact to a 6-month one, without much of an interruption.
The kids have all they need, and some of what they don't need ;)
The LTV on the house is still comfortably in our favour.

During the good years, we spent what we had, but only if we had it. We weren't seduced by easy credit. Thinking of all we did and spent in 2007/2008 I'm glad we did it then and still have stuff to show for it, and no debt (apart from mortgage).
 
Sunny said:
I can't have a pint anymore without someone bringing up the latest news on Irish government bond yields and credit default swap spreads.
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:) It's the new hot topic Sunny ... now that Cape Verde investment opportunities, invest in gold, or how is your apt in Bulgaria doing topics aren't cool any more!
 
I work harder for less money. I had feck all during the celtic tiger and I've still got feck all! It just seems so much tougher because worker's morale is so low!
Younger people have simply never had to go through tough times so the present times are hard to handle.
I stayed here working a crappy job during the 80's thinking my efforts would help get this country on its feet while all my friends went off to the UK, Holland etc to work on building sites. Back then there was always a feeling that things would get better. It was great having everyone back from the 90's on but the same friends are now heading off to Oz and other far off places.
I'm starting to think that this time I should join them!
 
On the negative side, I've taken a pay cut and also had loss of income from additional levies etc. Like everyone else, I've also had to deal with the increase in stealth taxes which are often forgotten about. Chances of payrises are nil. My employers have let go about 10% of the workforce worldwide including Ireland, and that fear is always in the back of my mind whereas perhaps previously, I wouldn't have thought about it.

On the more positive side, we are paying sales related bonuse this year and given I was involved in 2 large deals, I know I'll get a cut which is nice as it was not expected. I have a tracker, and the recession and people going shopping in NI has driven down prices from their Tiger high, which is good. In addition, there is far less traffic on the road, which is good as I've a long commute.

Overall, it's perhaps reminded me of the value of prudence
 
Actually I didnt think of negative equity when I posted in this thread earlier.

Its not affecting me as in I dont 'need' to sell - but it does mean that the dream of a home with a garden is on hold for a while.
 
Not been affected a lot beyond the levies etc which have affected everyone with a job - however workplace did implement a sort of shadowy cutback regime which saw them do everything in their power (audits, messing with exchange rates etc) to not pay sales commissions which previously would have been no problem, did hit me one or two quarters . . .to be honest the shock and loss of morale that they would be so underhanded was as bad as losing the money - I've been here many years and never saw anything like it.

Otherwise although I'm dreading what cutbacks are in store I'm glad at the same time that all the craziness of the boom years has stopped. It was completely out of control. So in a way there is a sense of relief too.
 
annR said:
. .to be honest the shock and loss of morale that they would be so underhanded was as bad as losing the money - I've been here many years and never saw anything like it..
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+1

Different organisation (probably ;)) but they're implementing changes here that they previously wouldn't have considered. I would previously has dismissed a book like The Shock Doctrine as being far-fetched. Around here, I'm no longer so sure :rolleyes:.

Never waste a good crisis ;) !
 
TarfHead said:
+1

Different organisation (probably ;)) but they're implementing changes here that they previously wouldn't have considered. I would previously has dismissed a book like The Shock Doctrine as being far-fetched. Around here, I'm no longer so sure :rolleyes:.

Never waste a good crisis ;) !
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So bad, I think you're developing a twitch ;)
 
Neither of us smoke and we drink very little but like our holidays. No mortgage so no real effect. Where I am concerned is the high cost of health insurance, general insurance, car insurance and the increasing cost of utility bills.
In the past 18 months all of our white goods gave up the ghost and had to be replaced. In fairness we got 15 years out of most of them. So hoping that we get another 15 out of the new ones.
Thankfully all our children are in employment and getting by but I am holding on to my savings just in case.
 
I took a 10% paycut. My brother and sister laid off and still unemployed. Other sister has a good job but bought a house in 2007 so in serious negative equity. Brother-in-law just emigrated to Canada 2 months ago. All in all, rough time for the family but we are all healthy.
 
Public sector worker with a reduced net income. Always lived within my means so less nights out, less clothes/shoes/makeup and I bring in lunches (yesterdays dinner), cook from scratch.

Wasn't one for for sun holidays but use to do a good few city breaks - went to Kilkee this year.

Was offered voluntary redundancy this week. Package of €85K now, lump sum of €30K in 20 years time and a pension of €12K when I reach 60.

Won't be accepting it like a lot of my colleagues so waiting to hear what next.
 
thedaras said:
Good to have the choice though...
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No, when I'm hacked off about something at work I'll be I should haven taken the 80 grand.

I'm pre 95 so no SW cushion to fall back as I have a feeling that a 40 yr old public servant with 20 years experience isn't very employable.
 
becky said:
I'm pre 95 so no SW cushion to fall back as I have a feeling that a 40 yr old public servant with 20 years experience isn't very employable.
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It's a big package, I'd take it for sure but everyone is different.

Why wouldn't you be employable? There are jobs out there, over one and a half million people head to work every day

Or you can always take a year and go to college and live on the savings if you wanted

Nice to have the choice anyway
 
Most private sector employers (I would be barred for 7 years from working in the public sector) would assume I'm inflexible and someone who has worked in a bubble all my working life.

I decided years ago I liked working in the public service. It was never about the money for me, as most of my college friends (bar a few who are victims of the the downturn) were/still are on much more money then I am.
 
I see Becky that if you take some Exit package you will be barred from a job anywhere in the Public Service for 7 years. I presume you work in the HSE - this sounds like some kind of discrimination to me.

Now (let's say) you worked in Private Industry and (let's say) you worked as a Private Investigator in some Security firm and you are taking an Exit deal. It is likely that you would be prevented in working in the same job-type for about 2 years max.

Even with 85K yours is not a good deal. Look at it this way, if there is ever a change in the economy you would be precluded from applying for any job in the Public Sector. Eventhough I am self employed, I need a fairly vibrant Public Service with money to spend.

The SMEs learned this last year e.g they had no problem with the PS hitting a one day strike, but when they went up north to shop the SMEs swore that this should never be let happen again.
 
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